Paysign, Inc. (NASDAQ:PAYS) CEO Mark Newcomer Sells 168,000 Shares

Paysign, Inc. (NASDAQ:PAYS - Get Free Report) CEO Mark Newcomer sold 168,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $4.51, for a total value of $757,680.00. Following the transaction, the chief executive officer now directly owns 8,768,886 shares of the company's stock, valued at $39,547,675.86. The trade was a 1.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Mark Newcomer also recently made the following trade(s):

• On Monday, June 2nd, Mark Newcomer sold 307 shares of Paysign stock. The stock was sold at an average price of $4.50, for a total transaction of $1,381.50.

Paysign Price Performance

Shares of NASDAQ PAYS traded up $0.37 during midday trading on Thursday, reaching $4.71. 1,063,946 shares of the company traded hands, compared to its average volume of 227,345. The stock has a 50-day moving average price of $2.77 and a 200 day moving average price of $2.84. The company has a market cap of $255.37 million, a price-to-earnings ratio of 31.40 and a beta of 0.23. Paysign, Inc. has a 52 week low of $1.80 and a 52 week high of $5.59.

Paysign (NASDAQ:PAYS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $18.60 million for the quarter, compared to analysts' expectations of $17.49 million. Paysign had a return on equity of 30.64% and a net margin of 14.28%. As a group, analysts expect that Paysign, Inc. will post 0.21 EPS for the current year.

Hedge Funds Weigh In On Paysign

Several hedge funds have recently made changes to their positions in PAYS. PDT Partners LLC bought a new position in shares of Paysign in the fourth quarter valued at $39,000. Royce & Associates LP grew its holdings in shares of Paysign by 36.5% in the 1st quarter. Royce & Associates LP now owns 19,319 shares of the company's stock worth $41,000 after acquiring an additional 5,166 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Paysign by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 15,385 shares of the company's stock worth $46,000 after purchasing an additional 5,243 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Paysign by 33.5% during the fourth quarter. SG Americas Securities LLC now owns 15,508 shares of the company's stock valued at $47,000 after purchasing an additional 3,895 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Paysign during the first quarter valued at $51,000. Institutional investors and hedge funds own 25.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PAYS shares. DA Davidson lifted their price target on shares of Paysign from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. LADENBURG THALM/SH SH increased their target price on Paysign from $7.25 to $8.25 and gave the stock a "buy" rating in a report on Friday, May 9th. Barrington Research reaffirmed an "outperform" rating and set a $7.00 price objective on shares of Paysign in a research report on Wednesday, March 26th. Finally, Lake Street Capital lifted their price objective on shares of Paysign from $6.00 to $7.00 and gave the company a "buy" rating in a research report on Friday, May 9th.

About Paysign

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.